Breitling Oil and Gas Morning Podcast #82 June 1st, 2012

An oil and gas bonanza in South Texas supported nearly 48,000 jobs last year while creating overnight boom towns cashing in on a $25 billion economic windfall from the liquid-rich Eagle Ford shale, according to a university study released Wednesday.

An energy rush that began with the first drilling in 2008 mushroomed into nearly 1,700 wells last year. Oil production is up more than six-fold since 2010 to more than 28 million barrels, while gas production has doubled.

The ladle-shaped shale formation stretches from the western Texas-Mexico border and hooks all the way toward Louisiana.

Blanketing the lucrative play are once-struggling rural counties that must now spend million-dollar tax rolls on infrastructure, development and education before the boom goes bust.

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